Ch.7&8 Review

to use operating leverage (ch.8 slide 5,6 and pg.245)

All of the following are strategic marketing issues or decisions EXCEPT...

in 2015, the number of LinkedIn users was closer to the number of Facebook users than to the number of Twitter users. (pg. 246)

All of the following are true EXCEPT...

indifference and apathy

An absence of conflict can signal ____ within an organization.

demand void (pg.251)

An area on a perceptual map without ideal points indicates a...

Restructuring (pg.222)

Which term is primarily concerned with shareholder well-being rather than employee well-being?

market segmentation and product positioning (pg.247)

Which two variables rank as marketing's most important contributions to strategic management?

sales territory

Which variable would be considered part of the "place" element of the marketing mix?

packaging

Which variable would be considered part of the "product" element of the marketing mix?

10 percent increase

Which word or phrase would be most suitable to use in written objective statements?

all of the above

Why do changes in company strategy often require changes in the way an organization is structured?

market segmentation (pg.247)

Subdividing a market into distinct subsets of customers according to their needs and buying habits is known as...

forecast sales as accurately as possible (pg.258)

The first step in performing projected financial analysis is to...

cost reduction (slide 28)

The primary benefit sought from restructuring is...

Strategic Business Unit (SBU)

Which organizational structure has the disadvantage of ambiguous roles for some senior executives?

conflict

A disagreement between two or more parties on one or more issues is called a(n)...

all of the above(pg.216 in book)

A divisional structure by product is most effective when...

all of the above

Considerable time and effort should be devoted to assuring objectives are well-conceived because they represent the basis for...

not always bad

Conflict in an organization is...

requires both qualitative and quantitative skills.

Evaluating the worth of a firm...

it decreases

If a firm incurs a loss during a particular year, or if the firm paid out more in dividends than it had in net income, what happens to the retained earnings (RE) amount?

debt(pg.254)

In low-earning periods, too much ____ in the capital structure of an organization can endanger stockholders return and jeopardize company survival.

Percentage-of-Sales Method (pg.258, slide 29)

In preparing projected statements, to project cost of goods sold in the income statement, which of these methods is recommended?

the cash account (slide 30)

In projected financial statements, what is used as a plug figure?

delivering materials just as they are needed (pg. 224)

Just-in-time describes...

list any 3 out of the 5 (all 5 are correct [trick question])

List three of the primary reasons annual objectives are essential for strategy implementation (options below): -represent the basis for allocating resources; -are a primary mechanism for evaluating managers; -are the major instrument for monitoring progress toward achieving long-term objectives; -establish organizational, divisional, and departmental priorities; and -they are essential for keeping a strategic plan on track

supply and demand (pg.248)

Matching which factors would allow factories to produce desirable levels without extra shifts, overtime, or subcontracting?

divisional

Medium-sized firms tend to use which type of structure?

perceptual mapping (pg.250)

Multidimensional scaling is used in...

Re-engineering

What action involves re-configuring or redesigning work, jobs, and processes for the purpose of improving cost, quality, service, and speed?

Avoidance, defusion, and confrontation

What are the three categories of approaches for managing and resolving conflict?

perceptual mapping (pg.250)

What entails developing schematic representations that reflect how your products or services compare to competitors on dimensions most important to success in the industry?

by cost

What is not one of the most basic ways a divisional structure can be organized?

Matrix (slide 24)

What is the most complex form of organizational structure?

Earnings per Share/ Earnings Before Interest and Taxes Analysis (pg.254)

What is the most widely used technique for determining the best combination of debt and stock?

All of the above (pg.247 and 248)

What makes market segmentation an important variable in strategy implementation?

Stock issuance (pg.254 and 257)

What tends to become a more attractive financing technique when interest rates are high?

They are not always better than debt for raising capital (pg.254)

Which one of the following statements regarding stock issuances is true?

(Ch.7 slide 8 in pwrpnt) Policies

What term is used to describe specific guidelines, methods, procedures, rules, forms, and administrative practices established to support and encourage work toward stated goals?

functional structure

What type of organizational structure promotes specialization of labor an allows rapid decision-making?

confrontation

Which approach for managing and resolving conflict involves exchanging members of conflicting parties so that each can gain an appreciation of the other's point of view?

avoidance

Which approach for managing and resolving conflict involves ignoring the problem in hopes that the conflict will resolve itself?

defusion

Which approach for managing and resolving conflict involves playing down differences between conflicting parties, while accentuating similarities and common interests?

Under-protection of resources

Which is NOT a major factor that commonly prohibits effective resource allocation?

all of the above

Which item is included in net worth?

they should use terms like "maximize," "minimize," and "as soon as possible"

Which of the following is NOT true about objectives?

all of the above

Which of the following is a management issue central to strategy implementation?

organizational change is a continuous process

Which of the following is in keeping with the current view of organizational change?

They usually require different marketing strategies

Which of the following is true about two different market segments?

Process (ch.8 pg.248)

Which of the following variables is NOT directly affected by market segmentation?

Position yourself in the middle of the map, if there are more than two competitors (pg.250)

Which of these is NOT a rule for using product positioning as a strategy-implementation tool?